In this article, I will show you step-by-step how to set up TradingView for the PowerX Strategy.

Let’s get started:

Here’s how to setup TradingView for the PowerX Strategy in 8 simple steps:

Step 1: Register for TradingView

It’s free, and if you don’t register, many of the features that I am showing you in this article won’t work.

You might even consider upgrading to the “Pro Version” for $14.95 per month. That’s the version that I have, and I think it’s well worth the price.

Step 2: Click on Full-Featured Chart

In order to add indicators to the chart and customize your layout, you need to click on Full-Featured Charts:

Step 3: Delete the Volume

I personally don’t use volume information, and it’s in the way. In order to have a clean chart, delete the volume:

Step 4: Add The RSI And Configure It

The next step is to add the indicators.

In order to add indicators…

  1. Click on the “F”
  2. Then enter “RSI” in the search field and
  3. Then select “Relative Strength Index”

Once the RSI Indicator is added to the charts, click on the gear icon to bring up the properties.

Now click on INPUT and change the LENGTH from 14 to 7.

And here’s how I select the STYLE of the indicator:

Changing the style is optional, but I like to change…

  • The Upper Band to 100
  • The Lower Band to 50 and
  • The Background to GREEN with a 20% Opacity

Step 5: Add the Stochastics

The next indicator is the Stochastics.

We can add the Stochastic in the same way as we added the RSI:

  1. Click on the “F”
  2. Then enter “Stochastic” in the search field and
  3. Then select “Stochastic”

Here’s how to configure the Stochastic:

  • Under INPUT, select 14, 3 and 3

And I like to change my STYLE settings as following:

  • Uncheck %K
  • Set the “Upper Band” to 100
  • Set the “Lower Band” to 50
  • Use GREEN for the “Background” with a 20% opacity

Step 6: Add the MACD

The next indicator is the MACD.

You can add it in the same way as we did before:

  1. Click on the “F”
  2. Then enter “MACD” in the search field and
  3. Then select “MACD”

Here’s how to configure the Stochastic:

  • Under INPUT, select 12, 26 and 9

And I like to change my STYLE settings as following:

  • Uncheck the “Histogram”
  • Change the color of the “MACD” to purple
  • Change the color of the “Signal” to orange

Step 7: Add Rockwell PowerX

The next step is to add the bar coloring so that the bars are GREEN and RED according to the PowerX Strategy:

  1. Click on the “F”
  2. Then enter “PowerX” in the search field and
  3. Then select “PowerX Strategy Bar Coloring [OFFICIAL VERSION]”

The good news: You don’t need to configure anything for this. :-)

Step 8: Save Your Chart Settings:

Your chart should now look like the chart below.

I highly recommend that you save your work:

  1. Click on the little ^ next to the GEAR icon
  2. Select a name and click on SAVE NOW

That’s it! You did it

Now you have setup TradingView for the PowerX Strategy, which — in my opinion — is the best TradingView Setup.

Hope this helps!

Trading Futures, options on futures and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. The lower the day trade margin, the higher the leverage and riskier the trade. Leverage can work for you as well as against you; it magnifies gains as well as losses. Past performance is not necessarily indicative of future results.

Education feed

Editors’ Picks

EUR/USD remains bid and approaches 1.1650 after US data

The persevering selling pressure in the greenback helps EUR/USD advancing to the area of daily highs near 1.1650 on Friday. The data from the US showed on Friday that the economic activity in the private sector continued to expand at a robust pace in early October.

EUR/USD News

GBP/USD treads water near 1.3800 after mixed UK data

GBP/USD came under bearish pressure in the early European session after the data from the UK showed an unexpected contraction in September Retail Sales. However, the British pound managed to pare its losses with the Markit PMI figures surpassing analysts' estimates.

GBP/USD News

USD/JPY struggles for direction, holds steady around 114.00 mark

USD/JPY struggled to preserve/capitalize on its modest intraday gains on Friday. A subdued USD price action turned out to be a key factor that capped the upside. Signs of stability in the equity markets, elevated US bond yields extended support.

USD/JPY News

Editors’ Picks

EUR/USD remains bid and approaches 1.1650 after US data

The persevering selling pressure in the greenback helps EUR/USD advancing to the area of daily highs near 1.1650 on Friday. The data from the US showed on Friday that the economic activity in the private sector continued to expand at a robust pace in early October.

EUR/USD News

GBP/USD treads water near 1.3800 after mixed UK data

GBP/USD came under bearish pressure in the early European session after the data from the UK showed an unexpected contraction in September Retail Sales. However, the British pound managed to pare its losses with the Markit PMI figures surpassing analysts' estimates.

GBP/USD News

GBP/USD treads water near 1.3800 after mixed UK data

GBP/USD came under bearish pressure in the early European session after the data from the UK showed an unexpected contraction in September Retail Sales. However, the British pound managed to pare its losses with the Markit PMI figures surpassing analysts' estimates.

GBP/USD News

Crypto bulls unfazed by flash crash

BTC closed more than 5% lower on the Thursday session, but buyers have stepped in to hold the Tenkan-Sen as support. ETH action shows that the recent rejection has caused some indecision. XRP does not have far to move to initiate a massive bullish breakout.

Read more

Apple talks over battery supplies for EV stall-Reuters

Apple (AAPL) is on a steady move higher ahead of results next week. We have had solid earnings from big names already such as Tesla (TSLA) and Netflix (NFLX), but Apple is the biggest one of all and will be the highlight of the earnings season for many.

Read more

RECOMMENDED LESSONS

7 Ways to Avoid Forex Scams

The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?

What Are the 10 Fatal Mistakes Traders Make

Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.

Strategy

Money Management

Psychology